May 1, 2026

Sticks & Bricks: News for Developers – May 2026

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This column is written by Manuel Salazar, SV@Home’s Housing Planning and Production Associate. To subscribe to the Developer Newsletter and receive updates straight to your inbox, click here.

In this month’s Sticks & Bricks, SV@Home is proud to kick off Affordable Housing Month 2026, leading efforts across the South Bay to bring together 50+ events that spotlight the people, projects, and policies shaping our housing future! 

Alongside this month-long series, we’re sharing key funding opportunities, from new gap financing resources to major state programs, as well as tools and research to help you stay competitive in a rapidly evolving landscape. As Affordable Housing Month gets underway, we invite you to explore our events and partner calendar, show up, and be part of the collective work to advance housing solutions across the region.

Funding Opportunities

Explore these new funding sources for affordable housing development:

  • NEW: Multifamily Finance Super NOFA – 2026 MHP Gap Funding NOFA
    • The California Department of Housing and Community Development has released $240 million in Multifamily Housing Program (MHP) Gap Funding to support construction-ready projects with existing HCD commitments. This funding is designed to help projects close remaining financing gaps, access bond and 4% tax credit resources, and move quickly into construction through a streamlined and expedited review process. Applications are due June 5, 2026. 
  • AHSC Round 10 Final Guidelines Released
    • HCD and the Strategic Growth Council have released the Round 10 AHSC Final Guidelines, advancing funding for housing, transportation, and infrastructure projects that reduce greenhouse gas emissions and support compact, transit-oriented development. The NOFA will be released March 4, workshops will take place March 23–25, and applications are due May 4th.
  • San Jose Rolling RFP
    • The City of San José has launched a rolling RFP for its Gap Financing Program, accompanied by updated underwriting guidelines. Projects submitted will be publicly scored, with top proposals prioritized for funding and the remainder added to a new waitlist.
  • Homekey+ and Tribal Homekey+
    • The State of California has launched two parallel funding programs to expand Permanent Supportive Housing for individuals experiencing or at risk of homelessness with behavioral health challenges. The Homekey+ NOFA provides $2.145 billion for projects serving veterans and other individuals with behavioral health needs, and the Tribal Homekey+ NOFA allocates $121 million specifically for Tribes and Tribal Entities.

News and Resources

Access important resources and guidance for affordable housing development:

  • ICE Response Resources
    • At SV@Home, we are committed to providing developers with the resources necessary to effectively train staff on how to respond to potential ICE raids. Here we have compiled a list of available resources to help navigate these challenges.
  • NEW: HCD Early Disbursement Request Process and Forms
    • HCD has introduced a new Early Disbursement Request process allowing qualifying projects to access permanent loan funds sooner. Eligible sponsors can begin submitting requests as of April 15, 2026, with approvals processed within 15 working days and funds typically available within 4–6 weeks.
  • NEW: HCD Affordable Housing Preservation Laws – Updated Guide
    • HCD has released an updated Guide and new fact sheets on Affordable Housing Preservation Laws to support efforts to preserve at-risk affordable housing across California. These resources outline purchase rights, timelines, and requirements for developers, public agencies, and tenant groups, particularly in light of recent legislative updates. 
  • NEW: Terner Center: Advancing a One-Stop Shop for Affordable Housing Finance 
    • The Terner Center’s latest research highlights California’s efforts to streamline its fragmented affordable housing financing system through the creation of a new Housing Development and Finance Committee (HDFC) under the California Housing and Homelessness Agency. The proposal would consolidate funding applications and align key resources like tax credits and bonds, reducing development timelines and costs. 

Upcoming Events

Mark your calendars for these key industry events:

  • NEW: SV@Home Affordable Housing Month Kickoff Party
    • Join SV@Home on Monday, May 4 from 6:00–8:00 PM at Clara’s Junction in Santa Clara to celebrate the official launch of Affordable Housing Month 2026! Come connect, celebrate, and help set the tone for a month of action under this year’s theme, #AllInForHousing.
  • NEW: SV@Home Women in Housing Brunch
    • Join SV@Home on Friday, May 8 from 9:30 AM–12:00 PM at the Jamison-Brown House in Santa Clara for the annual Women in Housing Brunch, a signature Affordable Housing Month event! This gathering brings together established and emerging women leaders in housing to foster connection, reflection, and leadership development, featuring keynote speakers Nicole Taylor and Jessica Paz Cedillos.
  • NEW: Who Gets to Live Here? Fair Housing & the Bay’s Future
    • Join SV@Home and regional partners on Wednesday, May 13 from 12:00–1:30 PM for a virtual conversation on how Bay Area jurisdictions are addressing housing discrimination through Affirmatively Furthering Fair Housing (AFFH) policies! This session will explore local examples of exclusionary practices, highlight Housing Element commitments, and equip advocates and practitioners with tools to hold jurisdictions accountable.
  • NEW: Explore Affordable Housing Month 2026 Events Calendar
    • Affordable Housing Month is here, with 50+ events hosted by SV@Home and partners across the Bay Area throughout May. From policy discussions and project tours to community celebrations, there are opportunities all month long to learn, connect, and engage in the work. Explore the full calendar and find events to plug in, show up, and be part of the movement.